Real estate is Americans’ top investment choice, according to a new Bankrate survey. The survey asks Americans what kind of investments made the most sense and 27 percent said they’d invest in property if they had a pool of spare cash.

CDs and other cash investments – previously the top answer in Bankrate’s 2013 and 2014 surveys – came in second at 23 percent. Only 17 percent of survey respondents said they’d purchase stocks; 14 percent said gold and other precious metals; and 5 percent said bonds.

“We’re not seeing the bunker mentality from individual investors to the same extent of the past few years,” says Greg McBride, CFA, Bankrate’s chief financial analyst. “But the preference for real estate over, say, the stock market, does beg the question of whether or not Americans are again viewing residential housing as a golden ticket.”

Geographically, Americans living in the West or in urban areas showed the biggest preference toward real estate investments at 35 percent and 31 percent, respectively. Americans living in the South also showed a strong preference for real estate and cash investments, while those living in the Midwest said they preferred cash and stocks over real estate.

Pennsylvania’s suburbs, specifically those in Chester County and Montgomery County, rank among the very best places to buy a home in America, according to Niche (www.niche.com).

Niche specializes in providing students, families, and professionals with helpful information for choosing a neighborhood, college, or school. Chester County features five of Niche’s top 60 suburbs.

Upper Uwchlan is the highest ranked suburb in Chester County, boasting “A+” education grade, a crime and safety grade of “A,” and a 91.7 percent home ownership rate.

West Whiteland Township, Tredyffrin, Birmingham, and East Whiteland townships are all in Chester County, and all finish in the top-60 of Niche’s survey results (26th, 41st, 52nd and 60th overall, respectively).

Philadelphia’s suburbs dominate the list of the top places to buy a home in America. By Niche’s numbers, the region offers strong housing markets “where property taxes and housing costs are in line with value.”

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A generation ago, buyers didn’t have the luxury of the Internet to research and investigate real estate. Today, of course, many enter the real estate market with statistics and information gathered online.

Despite all this data, many people, especially first-timers, have only a cursory understanding of how to be a successful buyer, how to negotiate, and how to approach the home-buying process. And they often develop pre-conceived notions about buying real estate, either from what they’ve read online or seen on TV, what their friends and family have told them, or all of the above.

It’s important that I as a realtor/broker, watch for and potentially debunk a buyer’s myths about the home buying process. If myths go unchecked, buyers may hold back from negotiations or even the home purchase because of things they think are true—but aren’t.

A good agent will debunk those myths while educating their clients at the same time. Be mindful of how you disseminate information and aware that sometimes, it can be better for a buyer to learn the truth behind the myth on their own—to experience a “lesson learned” in essence—than to simply hear what’s reality from their agent.

Here are seven myths many home buyers bring with them to the process.

1. Working directly with the listing agent will get the buyer a better deal

Many people today figure that with real estate listings published online, the buyer’s agent’s role is irrelevant. By searching and researching independently, buyers going directly to the listing agent assume they can negotiate a better deal by cutting out the middleman—the buyer’s agent.

The role of the buyer’s agent was never solely about accessing listings, of course. A good buyer’s agent has always had their feet on the street and keeps a finger on the market’s pulse. They know the comps and the other agents, so they can add an incredible amount of value simply through sharing their experience and knowledge.

Buyers, left to their own devices, “don’t know what they don’t know.” A good buyer’s agent can step in, track the buyer’s process and help uncover some of the unknowns about a particularly house, an agent or the market in general. A good agent has years of market and transaction experience in their head.

Additionally, the seller is going to pay the commission whether or not there’s a buyer’s agent. For the buyer, then, there’s rarely any savings by going without an agent. Instead, the listing agent simply makes double the commission. There’s no savings to the seller, either, when the buyer doesn’t have an agent.

Also, by having a listing agreement with the seller, the listing agent is looking out first and foremost for the seller’s interests, not the buyer’s. By working with an agent (at no cost), the buyer gets an advisor/advocate working to represent their best interests.

2. Buyers should never offer full price

It’s impossible to have an across-the-board strategy for pricing and negotiating real estate. For starters, every real estate market is different, as is every seller’s approach to pricing. In many parts of the country, for instance, it’s a red-hot sellers’ market. Many times, sellers will purposely price their property right at or just below market value to get multiple buyers interested. When buyers try to offer, say, 5 percent under market value when everyone else is offering full price or more, they might be looking for a home for months.

Also, if a listing is brand new, the seller may expect not a penny under asking. The first two weeks to a month are when the seller sees the strongest activity. When a buyer offers too far under asking out of the gates, they’re likely to lose out.

In slower markets, it’s not uncommon for a seller to price a home well over the market value and wait it out. If a buyer offers 5 percent off a home that is overpriced by 10 percent, the buyer risks overpaying. This is why it’s important that buyers work with an experienced local agent and never take a one-size-fits-all approach to pricing and negotiating.

3. Spring and fall are the best time to buy

Many years ago, real estate markets revolved around school cycles and summer. People wanted to move during summer so their kids could be settled in and start school by September. For this reason, spring has always been seen as the main selling season. Summer was usually slow, so the fall brought a second opportunity for buying and selling.

Some buyers (and sellers) still organize their activities around this myth. They pull away in the summer as well as during winter. With so much information online today, however, markets move much faster and a buyer can look at real estate 24/7 from a mobile device on their couch. As a result, serious buyers are in the market all the time. (The not-so-serious buyers come and go when it’s convenient.) Homes listed in November or January could be listings of highly motivated sellers. Some buyers have their hands in a real estate transaction all the way up to Christmas, and a seller who has a home listed then must be pretty serious about selling.

The bottom line: Shopping in the dead of winter or the middle of summer can present great opportunities for today’s buyers. With less competition in a market dominated by serious sellers, an aggressive buyer can snag a great deal in summer or winter.

4. Always leave room for negotiation after inspections

It’s common to think that the seller has left room on the table for future price negotiations after the property has been inspected. Therefore, as the myth would have it, a buyer should also leave room to negotiate after the property is inspected. Every buyer goes through this thought process when negotiating the home purchase. But when they follow this approach, they’re bound to get burned.

Many of today’s sellers go through the motions of getting their home in top shape before going on the market. This includes fixing the leaky water heater, replacing or repairing the roof or completing a list of “fix-it” items prior to listing.

Sellers want a sure thing with their buyer. A good agent will work with them to make sure the home is foolproof prior to listing. If the buyer leaves $15K on the table with hopes to negotiate afterwards and the inspection comes out flawless, they will be in trouble. A seller with a solid home and a clean inspection isn’t likely to negotiate with that buyer again. In a strong market, a buyer who tries to renegotiate won’t be taken seriously.

Agents should advise their buyer clients to be happy with the final price offered to the seller. It may happen that there are issues after the inspection and some credits come the buyer’s way. But counting on those credits will only waste everyone’s time when the inspection comes back clean.

5. A buyer must put down 20 percent to get a loan

Traditionally, a buyer got a 30-year-fixed loan and put 20 percent down. But times have changed.

With higher home values have come creative loan products. These aren’t necessarily the types of loan products that got people into trouble 10 years ago, however. Today, there are government-backed loans such as those from the Federal Housing Administration (FHA) that allow for as little as 3 percent down. These loans are a little more difficult to obtain and require a few extra layers of approval. But they’re available to borrowers with strong credit and income. With interest rates still at 20-year-lows, a smart buyer today will leverage the bank’s money to work for them.

Of course, buyers should never sign up for a loan they can’t afford. And they should always double- and triple-check their rate and payment schedule. It’s important not to get caught up in a small down payment scenario where the interest payment is low at first but then increases, unless the buyer can plan for it. If a buyer is serious about living in a location for at least seven years and wants to put down roots, then explore the available loan options. A five-minute call with a mortgage broker or banker can be quite revealing.

6. A buyer with a loan can’t compete with a cash buyer

With all the recent talk of cash buyers and big investors swooping in and buying real estate, a lot of first-time buyers assume that if they have to get a loan, they can’t compete. Many times this thinking keeps a would-be buyer on the sidelines.

But it’s important to educate buyers that cash is not always king. For starters, cash buyers expect some a discount because, by paying cash, they’re eliminating some of the risk of loan approval for the seller. A smart buyer can counter a cash buyer simply by making their offer as airtight as possible, such as being fully approved before making an offer. This means having the mortgage professional fully vet the buyer’s finances so there won’t be any surprises.

Buyers can take it a step further. Before making an offer, they should have the mortgage pro get as much information about the property. If the lender feels strongly about the buyer’s finances and the property doesn’t seem to have any obvious red flags, the buyer’s offer should include a short window to get the loan approved. Many sellers assume they have to wait 30 to 45 days for a buyer to get their financing in place. But if the buyer has their financial ducks in a row, they should shoot for two weeks to get financing.

Also, because cash buyers expect a discount, buyers can counter their offer by paying more. Though this may sound crazy, paying more doesn’t necessarily mean “overpaying.” It may simply mean paying market value, which a cash buyer won’t pay.

Finally, many home sellers, particularly long-term homeowners, like to know that someone will be living in the home and that there’s a real “person” behind the offer. When a seller is faced with two similar offers— one from a cash investor and the other from a person who really wants to live in the house and makes that known—a buyer with a clean, solid offer may beat out the all-cash investor.

7. Buying real estate guarantees appreciation

For a few years during the last decade, homes in all parts of the country were appreciating upwards of 15 percent year-over-year. We all know that the housing market came to a halt when the credit crisis happened a few years later.

Even though the real estate market is back in many parts of the country, things are different today. A generation ago, a buyer would purchase a home and plan to live there for 30 years and pay off their mortgage. Over time, this home did appreciate and it was a great investment for that buyer.

Today’s buyers are different and the world is different. With access to information, technology and the global economy, people are not staying put for as long as they used to. Also, people aren’t marrying and settling down as early and therefore may own one or two homes before settling down.

Real estate was still always meant to be a long-term investment. A generation ago, a homeowner couldn’t follow their Zestimate® home value or check their neighbor’s listings online. There was simply less knowledge and less tracking of your home’s value. If a homeowner looks at their home’s value weekly or monthly, much like stock investments, they will be in for a big surprise. Their home may appreciate a small amount. The value may stay flat for a few years. Or it may even go down.

Buyers should not buy a home only because they think it’s a good investment. It’s a home first and an investment second. If the buyer can’t commit to a minimum of five years (seven to 10 is even better), then they may be better off renting until they’re ready to commit.

We’ve long heard that the housing market recovery suffers from a shortage of first-time buyers, and that the long-term outlook for housing largely hinges on their return.

This view was backed by economists who participated in a panel on Monday at the National Association for Business Economics annual meeting, held in Chicago. But panelist Ivy Zelman suggested that first-timers may be starting to come back.

For one, first-time buyers made up 52% of those who purchased a home with a mortgage in the third quarter of this year, said the chief executive of real-estate research company Zelman & Associates, citing combined statistics from Fannie Mae, Freddie Mac and Ginnie Mae.

It’ s important to note the percentage of first-time buyers looks less impressive when all home sales are considered, since that also accounts for cash sales. In August 2014, only 29% of all buyers of existing homes were first-timers, according to National Association of Realtors data. For comparison, between October 2008 and October 2010, an average 41% of all buyers of existing homes were first-timers, David Crowe, chief economist for the National Association of Home Builders, pointed out during the panel discussion.

Still, the purchase activity of home buyers younger than 30 who bought with a mortgage (with the intent to live in the home) rose 8%, year over year, in 2012, according to a Zelman & Associates analysis. Purchase activity for this group rose 10%, year over year, in 2013. And purchase activity rose 19%, year over year, in both 2012 and 2013 for those between the ages of 30 and 39.

“After refis plummeted [due to an uptick in mortgage rates], there was a void and a capacity that mortgage companies wanted to fill,” Zelman said. But many people don’t realize that it’s getting a little easier to obtain a mortgage. “As far as they’re concerned, the mortgage market is closed. But the narrative is starting to change.”

In the coming years, as the youngest millennials turn 30, there should also be more demand for single-family housing, she said. While it’s true that people are delaying marriage and kids — and thus many times also delaying the purchase of their first single-family home — they won’t delay forever. Most mothers will have a desire to own a home with a yard for their growing families, Zelman said.

Effect on home building

An increase in first-time buyers can’t come quickly enough for the home building industry.

Throughout the 1990s and up until about 2005, new homes made up 16% of total sales, Crowe said. By comparison, in 2013, new home sales made up 8.8% of all sales. Move-up buyers are often able to buy a new home when a first-time buyer purchases their starter home, he explained.

Moreover, today’s first-time buyers are more likely to buy homes that are vacant due to foreclosure, he said. Because the former owners have left already, the sale doesn’t trigger another sale.

Check your credit – Requesting a credit report is actually one of the easiest things you can do; clearing fraudulent activity is one of the hardest. That’s why it’s important to check your credit history early in the process if you’re thinking about buying. If you find something negative on your report, it could take months to clear things up. The U.S. government allows for one free report each year from each of the three national credit bureaus – TransUnion, Experian and Equifax. Visit annualcreditreport.com for your free reports. It’s a great first step.

Pay down debt – This might seem like a no-brainer, but banks don’t want to see that you have a whole lot of stuff and not a whole lot of money. Banks need to know you’ll be able to pay their loan first and foremost, and they like to see a high credit score, which debt negatively affects. So start paying off those credit cards, and put off purchasing that new car or making any other major purchases until after you’ve secured a mortgage. Speaking of mortgages…

Build a down payment – Conventional wisdom says a down payment should be no less than 20 percent of the home price. A 20-percent down payment is something to shoot for, but it’s not necessarily required or entirely realistic, particularly for first-time homebuyers. A 3.5 percent down payment is the minimum required to secure an FHA loan. So although you might not end up bringing 20 percent to the transaction, you will have to prepare to bring some cash to the transaction.

Research neighborhoods – This is where the fun starts. If you’re not sure which part of town you’re looking to live, get out and explore! Drive around, walk the streets, visit the shops and eat in the restaurants. If you don’t see yourself living there, then move on to the next community. And don’t forget to research school districts – even if you don’t have children or don’t have children in public schools. Homes in good school districts move the fastest when it’s time to sell – should that day ever come.

Get pre-approved – Unless you’re paying cash, nothing shows a seller you’re ready to buy quite like having a pre-approval letter from a lender. Plus, you’ll know exactly how much you can borrow, which can guide you toward properties in your price range. Plan to secure a pre-approval just before you start looking at homes. Meet with several lenders to determine which company you trust most and which one can offer you the best terms and interest rate. Oftentimes, your real estate agent can provide you the names of reputable lenders. Of course, that includes our team. We have all of the resources you will need to make your dream a reality and have fun in the process.

At the Delivering Alpha conference, presented by CNBC and Institutional Investor, Paulson said: “I still think, from an individual perspective, the best-deal investment you can make is to buy a primary residence that you’re the owner-occupier of. Today, financing costs are extraordinarily low. You can get a 30-year mortgage somewhere around 4.5 percent. And if you put down, let’s say, 10 percent and the house is up 5 percent, which is the latest data, then you would be up 50 percent on your investment. And you’ve locked in the cost over the next 30 years. And today the cost of owning is somewhat less than the cost of renting. And if you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.”

Following the 2008 housing crisis it appeared that housing may have lost its power over the economy. Many economists and analysts, failing to understand the impact of home ownership on the American psyche, declared that homeownership and housing would never regain its position of influence over the US economy. The truth is that as housing has gone, so has the US economy. Housing’s pain has been our economy’s pain and as the housing market has recovered, so has the overall economy.

Is it any wonder then, that after an incredibly harsh winter, our economy posted its worst quarter of growth (-2.9%) since the Great Recession? The spring home buying season got off to a slow start with fewer new homes built and fewer renovations and repair projects undertaken to prepare existing homes for sale.

Yet, as summer begins, the housing tide is rising, and the US economy is likely to be coming along for the ride. According to the National Association of Realtors®, existing home sales in May rose at the strongest rate since August of 2011. The 4.9% increase was stronger than forecasts. Pending home sales, (homes under contract for sale yet not yet closed) have also been stronger than forecasts: 3.4% increase in March, .4% in April and 6.1% in May. These figures represent the highest level since the homebuyer tax credit was about to expire in 2010.

Recent housing data suggest that Americans are taking action as it relates to their housing situation. No longer are they waiting for housing conditions to improve. Prices for homes are up, mortgage rates remain near historic lows and first-time homebuyers are increasing in numbers. These are the necessary ingredients to a thriving, housing-based economy that is poised to once again be the engine of our nation’s economic strength. The housing tide is rising and it will lift all boats.

Buying a home on today’s market takes a lot of work! After the stress of financing and the rush of closing, the move-in can be a let-down. But one of the true joys of homeownership is your ability to truly make your home yours – customizing and personalizing it to suit your tastes, your family and your lifestyle to a t.

Here are four smart strategies for customizing your new home (even if new just means new to you!):
1. Paint to create the feel you want, inside and out. Painting your home with the colors and effects of your choice is one of the most cost-effective ways to create a completely personalized living space. And studies show that color choices, in particular, can have a massive impact on the mood and even the happiness of a home’s residents!

There are several ways – across a wide spectrum of cost and time required – you can use paint to personalize your property:

Exterior. The single fastest way to change your home’s look to match your personal preferences is to paint its exeterior. What did your lifelong dream home look like? What color was it? Repainting your home can make a massive change to its look and curb appeal, and can turn the home you can afford into the home you’ve always dreamed of.

Front door, shutters and fences. If you bought a home that has a relatively fresh paint job or an overall color you like, consider painting just the front door to inject some color and your personal touch. Aquas and greens, rusty or brick reds and even chic greys and blacks all make for a polished entrance – and the addition of a kick plate or engraved knocker can create a 100 percent personalized look. Painting shutters, fences, eaves and other exterior accents a contrasting color of your choice are additional quick and inexpensive – but powerful – tweaks that can also make your home look buttoned up and, well, yours.

Interior. The individual inhabitants of different rooms can pick their colors and custom effects, like harlequin diamonds or fun, personalized murals for kids’ rooms. Aim to match colors to a room’s purpose, so that bedrooms have a sense of restful sanctuary, bathroom walls read “clean,” and common living areas are warm or energizing, as you wish! Glidden has a fabulous interactive inspiration tool with amazing suggested palettes that coordinate with the various uses of individual rooms, like Growing Up Colors, for kids’ rooms, Fresh Baked Kitchen palettes and my personal favorite: the palette dedicated to Man Cave Colors.

If you have a limited time or budget, or you’re afraid you’ll regret bold color choices, try accent walls – a single wall of color in every otherwise neutral room can go a long way toward customizing your home.

2. Inventory your space and your stuff before you unpack. Many people are buying smaller homes in an effort to manage costs of ownership and live closer to where their jobs are (gas prices certainly don’t look to be getting cheaper any time soon!). Even if you’re not moving into a small place, moving in – period – presents an opportunity to truly customize your living spaces for the activities you want to do and things you want to “live” in them.

There’s no rule that says the table and chairs have to go in the dining room just because it’s called that; it’s your house – take control! Maybe it’d be better as an office for you and homework space for the kids, and you can ‘dine’ in the kitchen or part of the living room. The windowless “extra” room might make for the perfect yoga room, craft room or space to plot your fantasy football world domination schemes.

Make a chart that divides all your home’s spaces – all of them, including any seemingly wasted spaces or nook-ey areas under the stairs or in the garage, before you move in. Then, decide what you want to (a) do, and (b) store in each area. This approach empowers you to make sure every person, activity and thing in your home has the right amount and type of space.

If you’re looking for some inspiration as to what sorts of custom organization systems are even possible, and/or you’re intimidated at the mere prospect of doing-anything-yourself, master carpenter and home improvement show host Karl Champley just released a great book on the subject, Same Place, More Space (Chronicle Books, 2011).

4. Match your furniture to your space, your activities and your stuff. Remember the space issues you couldn’t stand in your last place? Anticipate them, and as you plan to buy your furniture, look for things that offer extra organizational or storage features. I have a little “issue” with shoes at my house – they’re always everywhere! So, we put a cubby in the entryway for shoes, and each bedroom has a specific place to store them (an ottoman in mine, shoe shelves for my son.)

Also, if your space inventory (see #1 on this list) showed up lots of stuff with no place to go, make an effort to buy armoires, storage closets and sheds. To give your home a polished look that reflects your (perhaps newly!) organized personal style, a good rule of thumb is to make an effort to have a closed storage space for every item that has a label or would otherwise have to sit on top of a table or counter.

An “Older” Home
Old isn’t always synonymous with bad. Some homes built decades ago have stood the test of time because they were built with solid, quality materials and have a classic style. Don’t always assume that new = nicer, either. Some newer homes are “affordable” because they were built cheaply. Buyers should remember that there are many simple fixes for dated homes, and the plus side of an older home is charm and character you can’t find in a brand new build.

Paint Colors
Things that may not be a huge deterrent in the long run can distract buyers. Ignore the existing paint choices and focus on the structure of the room, the placement of the windows, and other more permanent features. Paint is an incredibly easy and a cheap fix in a home and something that can be changed in just a couple hours.

Wacky Wallpaper
Like paint, wallpaper is easily replaced or covered over. So no matter how designed challenged the walls seem to look—it’s an easy fix.

Kitchen Appliances And Accessories
The kitchen is the heart of the home and often, the appliances aren’t going to live up to most buyers’ dreams. As long as the buyer leaves some room in the budget, or has a timeline to replace the existing appliances, a seller’s yellow fridge shouldn’t be a deal breaker.

Ugly Carpet
Flooring options are getting more and more diverse and there are now so many low-cost options that look exactly like their higher-priced counterparts.

Funky Smells
Except for a serious mold problem, there’s nothing a deep cleaning can’t fix. Focus on the home’s bones and the potential it has when you give the home your own touch.

Curb Appeal
Even if you are not saying “wow” when you first drive up, that’s ok. Close your eyes and envision a different colored front door and some new landscaping, and presto—it might just be your dream home!

Popcorn Ceilings
It’s great at the movies, but not at home. No worries! A ceiling specialist can come in and have it all that scrapped off. It can be a messy issue and can be pricey, but it’s not the end of the world.